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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Option Activity

The following table summarizes option activity during the years ended December 31, 2022 and 2021:

Schedule of Option Activity

		Number of Options				Weighted Average Exercise Price				Weighted Average Fair Value				Weighted Average Remaining Contractual Life (Years)
Outstanding at December 31, 2020			1,300,588			$	2.44			$	1.24
Granted			-				-				-
Expired			-				-				-
Forfeited/Cancelled			-				-				-
Exercised			(189,225	)			2.38				1.12
Outstanding at December 31, 2021			1,111,363			$	2.12			$	1.31
Granted			-				-				-
Expired			-				-				-
Forfeited/Cancelled			-				-				-
Exercised			(70,791	)			1.10				0.51
Outstanding at December 31, 2022			1,040,572			$	2.19			$	1.37				5.88
Exercisable at December 31, 2022			1,040,572			$	2.19			$	1.37				5.88

Schedule of Outstanding Restricted Stock Units and Related Activity

The grant date fair value of RSUs granted is determined using the closing market price of the Company’s common stock on the grant date with the associated compensation expense amortized over the vesting period of the awards. The following table sets forth the outstanding RSUs and related activity for the years ended December 31, 2022 and 2021:

Schedule of Outstanding Restricted Stock Units and Related Activity

		Number of RSUs				Weighted Average Grant Date Fair Value
Unvested at December 31, 2020			522,500			$	10.49
Granted			1,217,500				9.76
Vested			(438,502	)			10.10
Forfeited/Cancelled			(34,083	)			9.91
Unvested at December 31, 2021			1,267,415			$	9.94
Granted			1,925,476				5.66
Vested			(725,166	)			8.66
Forfeited/Cancelled			(41,000	)			8.31
Unvested at December 31, 2022			2,426,725			$	7.06

Schedule of Warrant Activity

The following table summarizes warrant activity during the years ended December 31, 2022 and 2021:

Schedule of Warrant Activity

		Number of Warrants				Weighted Average Exercise Price				Weighted Average Fair Value				Weighted Average Remaining Contractual Life (Years)
Outstanding at December 31, 2020			70,000			$	1.83			$	5.21				3.3
Granted			456,281				9.13				3.83
Expired			-				-				-
Forfeited/Cancelled			-				-				-
Exercised			-				-				-
Outstanding at December 31, 2021			526,281			$	8.15			$	4.01				4.7
Issued for adjustments to contingent purchase consideration			8,719				9.13				1.88
Granted			-				-				-
Expired			-				-				-
Forfeited/Cancelled			-				-				-
Exercised			(50,000	)			2.00				1.22
Outstanding at December 31, 2022			485,000			$	8.81			$	2.43				4.0

Schedule of Recognized Stock-based Compensation Expense

The Company recognized stock-based compensation expense related to the types of awards discussed above as follows:

Schedule of Recognized Stock-based Compensation Expense

		2022				2021
		Years Ended December 31,
		2022				2021
Options		$	78,115			$	292,754
Restricted stock units			7,465,108				5,164,750
Stock			-				51,900
Total stock-based compensation expense		$	7,543,223			$	5,509,404

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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